Prices received by farmers dropped slightly in July

USDA reports a slight drop in prices received by farmers in July.

The latest New Ag Price Report shows farmers lost one-tenth of a percent, but prices are still 26 percent higher than last July. Analysts believe price drops in corn, wheat, and soybeans all played a role in the decline.

The report also shows farmers had to pay roughly half a percent more just to do business, which is 13 percent more than in July 2021.


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